Wednesday, October 14, 2015

Qualcomm Sells Vuforia to PTC

PTC has signed a definitive agreement to acquire the Vuforia business from Qualcomm for $65M. Vuforia is the widely adopted AR platform supported by a global ecosystem of developers in 130 countries, and has powered more than 20,000 apps with more than 200 million app installs worldwide. Under terms of the agreement, PTC will acquire the award-winning Vuforia business, including the developer ecosystem. PTC is committed to continued investment in the Vuforia platform and to the ongoing support and growth of the Vuforia ecosystem.

By delivering powerful computer vision functionality through a simple API, the Vuforia platform has enabled developers and leading brands to deliver award-winning experiences to consumers around the globe,” said Jay Wright, VP of Vuforia, Qualcomm Connected Experiences, Inc. “Vuforia has also captured the attention of industry leaders who envision the potential for augmented reality to transform work. As part of PTC, Vuforia will allow developers to realize this potential through integration with PTC’s industry leading applications and ThingWorx IoT platform.

Vuforia has wide adoption from leading companies including 37 of the Interbrand 100 and has consistently been awarded for its performance, robustness, and ease of use, including “Best Tool” at Augmented World Expo in each of the last three years. Vuforia supports multiple developer tools, including Eclipse, xCode, and Unity and runs on multiple operating systems and devices, including iOS and Android phones, tablets, and selected mobile eyewear.

Vuforia annual revenue is currently not material to PTC financial results. The transaction is expected to close by the end of calendar year 2015.

A Youtube Qualcomm Vuforia overview:

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